Global Network as a Service Market 2019 – 2025: A USD 50 Billion Opportunity

Global Network as a Service Market 2019 - 2025: A USD 50 Billion Opportunity

“The IT & telecom segment is expected to hold the Network as a Service market share of over 25% in 2025”
The network as a service market is expected to witness a significant growth rate from 2019 to 2025 due to the rising demand for network virtualization technologies among enterprises to minimize CAPEX & OPEX costs

The Network as a Service market is projected to surpass USD 50 billion by 2025. The major market drivers are the increasing demand for cost-effective networking solutions, adoption of cloud-based networking technologies, increase in broadband penetration, and investments in next-generation 5G network commercialization. Network virtualization is helping companies to reduce their capital and operating expenditure required for maintaining & managing physical infrastructure. Various government regulations regarding data privacy and data security are also fueling Network as a Service market growth.

 

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The demand for Software Defined Networking (SDN) services is another factor driving market growth. SDN solutions enable enterprises with a centralized view of the entire network to centrally manage & control network operations. The optimization of network infrastructure hardware with SDN technology is helping enterprises in reducing network-related expenditure. The increase in the demand for SD-WAN solutions for connecting the WAN from multiple sites together is aiding Network as a Service market growth. SD-WAN technology delivers agility & flexibility to enterprises by removing the burden of traffic management from physical network devices and transferring it to the software.

The large enterprise segment is expected to dominate the Network as a Service market by 2025 with a share of over 55%. The large enterprises are shifting toward the virtual network infrastructure to optimize the expenditure associated with managing & maintaining the physical infrastructure. NaaS enables enterprises to use their network with greater flexibility, dynamism, and agility. The on-demand provisioning of computational resources according to the pay-per-use model provides momentum to large enterprises to adopt NaaS solutions. The other factors driving the adoption of NaaS in large enterprises are increased levels of uptime, enhanced security, improved Quality of Service (QoS), maximized performance, and optimized systems.

 

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The IT & telecom segment is expected to hold the Network as a Service market share of over 25% in 2025. Telecom companies are replacing their network hardware with SDN and NFV to build a centralized network infrastructure. The centralized network infrastructure enables telecom companies to centrally manage & control all networking operations from a single location. The operational cost-effectiveness of SDN technology enables telecom companies to shift toward NaaS over their traditional network infrastructure. The enterprises are emphasizing on outsourcing network & cyber-security solutions to focus on their core competencies to cope up with the increasing market competition.

The Asia Pacific Network as a Service market is expected to witness the fastest growth rate of over 40% during the forecast timeline. The increase in the demand for virtualization to reduce the cost and complexities of the physical network infrastructure will support market growth. The global network solution providers are deploying the virtualization network in the region to tap the growing market. For instance, in July 2018, VMware launched a new Virtual Cloud Network in Malaysia to accelerate digital adoption in the country. This expansion helped the company to deliver solutions, enabling businesses to create an end-to-end software-based network architecture that can deliver services to applications and data regardless of their location.

 

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The companies present in the network as a service market are focusing on offering new products & services to gain more market share. In November 2018, Amazon introduced the Global Accelerator networking service, which will help to improve the performance of applications running on AWS cloud. In November 2018, Telstra introduced the NaaS platform across its business networks. By introducing a new platform, the company has been able to improve its product offering through refinement. The new platform accelerated the rate of delivery for the firm’s network innovations. The telecom companies in the country are partnering with technology companies to provide the NaaS platform.

 

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